Web drives consumers to gas savings

CecilyFraser

SAN FRANCISCO (CBS.MW) - It's been a frustrating year for motorists who find themselves cringing as their gas tank nears empty.

The average U.S. driver will pay $1.46 per gallon this year -- 30 cents more than year-ago levels.

Many Americans have joined car pools, cancelled family trips and even ditched their gas-guzzling SUVs to take some of the sting out of rising costs. The average U.S. driver will pay $1.46 per gallon this year -- 30 cents more than a year earlier.

For the year, that adds up to a total average gasoline bill of $1,065, according to John Felmy, chief economist at the American Petroleum Institute. For households with two adult drivers and teens behind the wheel, the bill climbs to more than $2,500. That's a tough expense to swallow for many Americans who fill up their tank to commute to work or make frequent road trips.

On Thursday, Priceline.com licensee WebHouse said it was pulling the plug on its "name-your-price" for gas service, dashing hopes of consumers looking to save hard-earned dollars on fuel. See full story.

Still, consumers should be aware that there are other online gas sites offering gas discounts and pricing information that translate into significant savings.

"That's one of the big trends in online commerce . . . the fact that you have companies that integrate content and information, providing referrals or actually helping consumers make the transactions," Jupiter Communications analyst Rob Leathern said.

Bargain hunters

GasPriceWatch.com offers consumers information to make cost-saving decisions. With the help of almost 11,000 "spotters," the Dayton, Ohio-based site monitors the cost of 87-octane gas at local stations across the nation, so users can search the database to find the cheapest gas prices in their area.

If drivers are willing "to go about a half a mile out of their way, and it's a town that has spotters, they can save on any tank full 10 to 15 cents a gallon," GasPriceWatch Chief Executive Brad Proctor said.

The site makes consumers more aware of competitive forces, such as high demand that's driving the wild price fluctuations in the market. There have been days recently when prices in the same town fluctuate as much as 20 cents per gallon, Proctor said. "One part of the community starts to go up, and literally within 24 to 48 hours, they're all up near the same price."

Join the club

Carclub.com, a division of J.D. Power Clubs in San Francisco, offers a 10 percent savings at more than 110,000 service stations. To be eligible, consumers are required to pay a $5.99 monthly fee and buy gas using a debit card.

Users can sign up as a Carclub member online or by phone. They'll receive a membership and gas MasterCard -- a stored "prepaid" card -- in the mail. Once consumers provide their credit-card info, they can select how much gasoline they'd like to purchase, with the 10 percent discount applied upfront. For example, a member who purchases a prepaid card for $90 will receive $100 of gasoline.

The maximum balance allowed on the card at any time is $200 -- at 10 percent that's $20 savings each month. Launched in April, the program has saved its 64,000 members an estimated $825,000, said Ivy Cohen, vice president for public and investor relations.

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